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Electricity Prices are Changing

Why? 

  • According to The Government of Ontario, they are currently building the infrastructure we require by upgrading old transmission lines and power plants.  The Government confirms Ontario has shut down 8 coal units so far and plans are in place  to shut down all remaining units by 2014, to reduce air  pollution and by moving to cleaner sources of electricity.   

How much will we pay? 

  • The Government of Ontario says that over the next 20 years, including taxes and other charges, electricity bills are projected to rise about 3.5 per cent per year.  They add however, that largely because of investments being made in the short term to bring on new energy supply and upgrade electricity infrastructure, electricity bills are expected to increase by about 7.9 per cent per year over the next five years.   

How can we manage costs? 

  • Although electricity prices are rising, you may be eligible for credits and benefits that can help manage costs, such as the new Ontario Clean Energy Benefits which takes 10 per cent off electricity bills  that are applied directly to your electricity bill for the next 5 years.  To find out more go to: www.ontario.ca/energyplan. It is also suggested that you can take steps to use less energy by lowering your heat when you’re not home and when you are sleeping, and  by choosing high-efficiency HVAC equipment and appliances and shifting household activities away from times when demand is highest. 
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